Investors Transact N33.9bn Shares in 21,849 Deals on NSE

By Modupe Gbadeyanka

The level of activity on the trading floor of the Nigerian Stock Exchange (NSE) improved last week when compared with the previous week despite the market opening for only four days.

Last week, the market opened for four trading days as the federal government of Nigeria declared Monday, November 11, 2019 a public holiday to mark the Eid-Ul-Maulud celebrations.

In the week, a total turnover of 2.1 billion shares worth N33.9 billion were transacted in 21,849 deals in contrast to a total of 2.1 billion shares valued at N18.4 billion traded the previous week in 16,778 deals.

Equities in the financial services industry (measured by volume) led the activity chart with 1.7 billion shares valued at N21.6 billion traded in 15,395 deals, contributing 81.84 percent and 63.65 percent to the total equity turnover volume and value respectively.

This was followed by stocks in the consumer goods sector, which posted a turnover of 188.9 million shares valued at N7.5 billion in 1,989 deals, while the conglomerate industry recorded a turnover of 82.7 million equities worth N128.7 million in 691 deals.

The most active stocks in the week were Zenith Bank, Access Bank and UBA, which accounted for 1.2 billion shares worth N17.1 billion in 7,031deals, contributing 58.09 percent and 50.34 percent to the total equity turnover volume and value respectively.

A total of 39 equities appreciated in price during the week, higher than 30 equities in the previous week, while 11 equities depreciated in price, lower than 28 equities in the preceding week, with 116 equities remaining unchanged, higher than 108 equities recorded a week earlier.

Wema Bank closed as the week’s highest price gainer, rising by 28.81 percent to finish at 76 kobo per share. It was followed by Cornerstone Insurance, which gained 26.53 percent to end at 62 kobo per unit.

Guinness Nigeria appreciated by 22.75 percent to close at N28.60 per share, Jaiz Bank grew by 22.41 percent to settle at 71 kobo per share, while FBN Holdings increased by 18.10 percent to trade at N6.85 per unit.

On the flip side, Total Nigeria led the losers’ chart after depreciating by 9.98 percent to close at N110.90 per share, while Learn Africa followed with a loss of 9.40 percent to finish at N1.06 per share.

Unilever Nigeria went down by 5.61 percent to settle at N18.50 per unit, Continental Reinsurance declined by 5.04 percent to finish at N2.26 per unit, while PZ Cussons fell by 3.60 percent to settle at N5.35 per unit.

An analysis of the major market indicators showed that the All-Share Index (ASI) and market capitalisation both appreciated by 2.04 percent to close the week at 26,851.68 points and N13.071 trillion respectively.

Similarly, all other indices finished higher with the exception of insurance and oil/gas indices, which declined by 0.56 percent and 1.76 percent respectively, while the ASeM index closed flat.